Calgon Carbon Reports Third-Quarter Loss on Restructuring Charge
Calgon Carbon Corp. (CCC), a Pittsburgh- based water-purification company, reported a third-quarter loss of $4.5 million including a restructuring charge compared with net income of $14.5 million a year earlier.
The $8 million restructuring charge stemmed from a previously announced cost-reduction program that included closing a manufacturing facility in Datong, China, and severance payments, the company said today in a statement.
Sales for the quarter were $135.5 million, a 5.6 percent decrease from a year ago due mostly to lower demand for activated carbon in the municipal drinking water, environmental air and wastewater markets, Calgon Carbon said.
Equipment sales climbed almost 58 percent in the quarter, buoyed by ballast water treatment systems, it said. The shares climbed as much as 4.6 percent today, the most in three months, trimming the stock’s decline this year to 17 percent.
To contact the reporter on this story: Randall Hackley in London at firstname.lastname@example.org
To contact the editor responsible for this story: Randall Hackley at email@example.com